The Kushner Real Estate Group hopes to build a 40-story condo at this spot.

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MIDTOWN — A huge new residential development could soon come to Midtown, according to a report.

Jon Kushner, a developer with the Kushner Real Estate Group, purchased three buildings at the corner of Fifth Avenue and West 30th Street in the hopes of building a high-end condo there, according to a report in Bisnow.

The condo at 281 Fifth Ave. would be 40 stories and about 135,000 square feet, Kushner said, according to the report.

KRE purchased the buildings in 2012, according to city records. At three floors, the building is easily among the smallest on the block and could be build much higher under current zoning.

The proposed condo would be designed by HWKN Architects, the report said. The spot is currently a shuttered deli.

Headquartered in New Jersey, KRE owns over 100 properties and has expanded in New York in recent years.

__________________“If I have done the public any service, it is due to my patient thought.” ― Isaac Newton

^ Interesting. Thanks for the clarification. None of those buildings are particularly nice so there is no architectural loss there.

Its a good thing developers all over Manhattan are cleaning some of these decrepit structures. While I am a fan of older buildings, save the ones for the most part that are beautiful. This is just a eyesore on the corner.

I'm wondering how many feet or meters a 40 stories and about 135,000 square feet could yield. Not sure how to do that math.

Its a good thing developers all over Manhattan are cleaning some of these decrepit structures. While I am a fan of older buildings, save the ones for the most part that are beautiful. This is just a eyesore on the corner.

Yeah. There are tons of fantastic old buildings that deserve to be preserved, but there is even more architectural diarrhea that needs to be razed ASAP.

Not many can say they set into motion one of the city's most expensive residential transactions to date over a relaxing cup of morning coffee, but according to a press release, it's true for Jared Kushner's cousin Jonathan Kushner of KRE. KRE, along with development partner Ironstate, have agreed to sell a parcel of three NoMad lots at 281 Fifth Avenue to Jersey home developer Victor Homes for the outlandish sum of $99 million, or $750 per buildable square foot. The Journal refers to the sale that closed on Friday as "one of the highest rates paid for a residential site in Manhattan." Prior to the sale, the development firms had planned a 40-story, 132,000-square-foot ultra-luxury tower at the 30th Street and Fifth Avenue corner. Victor Homes, who last year completed a luxury high-rise at nearby 241 Fifth Avenue, is likely to follow up with similar plans.

As expected, developer Victor Homes will construct a condo tower at 281 Fifth Avenue on the corner of 30th Street, but the tower will be even taller than previously reported. When Victor bought the site in June for $99 million, reports speculated that the developer would likely follow through with the previous owner's (Kushner Real Estate Group) plans for a 40-story, 132,000-square-foot tower. But new information about the project, spotted by New York YIMBY, indicates that the building will be 51 stories and 250,065 square feet. The numbers come from a pitch for investors through the EB-5 program (through EB-5, foreign investors who put at least $500,000 into a project get permanent green cards), which includes a few semi-renderings that show a slender, cantilevering tower with some oddly-placed cutouts. It will be designed by starchitect Rafael Vinoly, who also designed a little building called 432 Park Avenue.

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If the renderings look familiar, you might be thinking of this mystery tower (↑) that was rendered in a video back in October. The locations are slightly different—this tower is off of Fifth Avenue and bound by 28th and 29th streets—but the similarities are certainly intriguing.

The project is being developed by Victor Group and the American Immigration Group. No building new permits have been filed for the tower, but demolition permits for the existing building were approved last week.

In a way it kinda works height wise. Design I'm sure we will get better renderings in the future, but given the location, its average at best. If it would of been something in the supertall range, given the presence of the ESB, I would like something a little more intriguing. At least it doesn't appear to be an eyesore for now.

I agree about the design being not too impressive, but it could easily be a lot better. The problem that I see with this building is that there are too many flat surfaces (observation deck protrusion and setback halfway up the tower) instead of rounded or slanted ones. Also, it would probably look much better with a pointy roof or a V shaped roof that follows the pattern of the braces that go all of the way up the tower.

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Originally Posted by chris08876

In a way it kinda works height wise. Design I'm sure we will get better renderings in the future, but given the location, its average at best. If it would of been something in the supertall range, given the presence of the ESB, I would like something a little more intriguing. At least it doesn't appear to be an eyesore for now.